Burak Tamaç
Why GBTC premium is still negative?
High GBTC discount has been the tale since February 2021. The recovery of the BTC price from low 30s to high 60s did not reflect on the GBTC premium. One assumption was that the possibility of a spot ETF approval suppressed the premium. Yet, SEC rejected the spot ETF application by VanEck almost two weeks ago. The market might be relying on other spot ETF applications because this decision has not been affected the GBTC premium.